NEW YORK – Hemogenyx Pharmaceuticals said Wednesday that it will receive a $350,000 investment from Prevail Partners, which it will put toward clinical trials of its anti-FLT3 CAR T-cell therapy for certain patients with acute myeloid leukemia and acute lymphoblastic leukemia.
Prevail is making the investment in the form of a subscription for ordinary shares in Hemogenyx, which cost Prevail $.075 per share — a premium of around 275 percent of Hemogenyx's closing share price on Oct. 1. The subscription will go into effect in March 2025.
Alongside the news of Prevail's investment, Hemogenyx has also announced it will use Prevail's contract research organization, Prevail InfoWorks, for an upcoming Phase I clinical trial of its FLT3-directed CAR T-cell therapy in pediatric AML and ALL patients, which is expected to launch in March 2025. As Hemogenyx's CRO, Prevail InfoWorks will coordinate the clinical sites for the trial; manage data and projects; monitor clinical activity and safety; and use its real-time data analytics platform, the Single Interface, to help Hemogenyx analyze data.
Prevail was already acting as CRO for Hemogenyx in the firm's ongoing HEMO-CAR-T clinical trial of the CAR T-cell therapy in adult patients under an existing master service and technology agreement. The agreement lasts 26 months.
According to Hemogenyx, the $350,000 investment by Prevail will offset much of what the firm will pay Prevail InfoWorks for the first stage of the CRO services.
Last month, UK-based Hemogenyx announced plans to use a FLT3 assay to identify AML patients who are likely to respond to the CAR T-cell therapy and stratify patient enrollment to its Phase I trial based on FLT3 expression.